Azerbaijan discloses volume of issued mortgages
February 8, 2022 12:51 (UTC+04:00)
The total amount of mortgage loans issued through the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan amounted to 1.996 billion manats (1.17 billion dollars) as of January 1, 2022, of which 1.349 billion manats ( $794 million) were conventional and 647 million manats ($380.8 million) were soft loans, the Azerbaijan Mortgage and Credit Guarantee Fund said. Tendency.
According to the data, mortgage loans increased by 21.6%, including conventional mortgages – by 23.1%, and subsidized loans – by 18.7% compared to the same period in 2021. The Fund has refinanced 1.861 billion manats ($1.09 billion) of loans issued by authorized banks in 2021, 28.9% more than in 2020.
At the beginning of 2022, the number of mortgage loans issued by the state amounted to 49,287 (an increase of 17%), of which 36,746 simple mortgage loans (an increase of 16.7%), preferential loans – 12 441 (a 16.7% increase). As for loan financing, 728 million manats ($428.49 million) were allocated from the state budget to the Fund. The Fund raised 1.535 million manats ($903.4 million) through the issuance of bonds.
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